Retail's Changing Landscape
As 2018 comes to an end, more than 146 million square feet of retail space will be shut across the U.S. in malls and shopping centers, according to real estate research group CoStar. That's more than the roughly 105 million square feet of space that was announced for closure in 2017. The closures show retailers that customers are seeking change.
The Fountains at Gateway seeks to fill this new era of retail experience. “Customers are looking for an experience and a main street type feel,” says Sherri Dasilva, VP Real Estate at Hearthstone Properties. “Including elements like the pocket park, extended walkways and outdoor fireplace, the Fountains at Gateway is set on creating a community feel at the mixed-use property."
One of their special events, Winterfest, kicked off in 2017 as a way to bring visitors to the Fountains for ice skating and entertainment. Over 15,000 guests attended the 1st annual Winterfest during the seven week festival. In 2018, Dasilva says the festival has been extended into mid-January to encourage even more visitation to the retailers and restaurateurs located at the Fountains. Other special events include movies on the green, the fabulous splash pad and spirit nights for local schools and organizations. The Fountains at Gateway continues to look to the future as they continue phase 2 of their property which is expected to open in the first quarter of 2019.